Today, they’re worth $3,360,000, Analysis: From online shopping to skyrocketing commercial property values, higher taxes and rents, UBC’s ‘city’ growth, gentrification and yes, the pandemic, many factors are at play, COVID-19 may ultimately have a positive effect on building design and urban living. Posted on Oct 22, 2020 in Vancouver Real Estate News It’s no surprise that the Detached Market is certainly on the hot side. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Residential and land sales so far this year in the city of Vancouver … Vancouver Housing Market October 2020 Report VANCOUVER, BC – November 3, 2020 – Home sale and new listing activity remained at near record levels across Metro Vancouver* in October. Average house price in Greater Vancouver set to jump nearly 10 per cent in 2021, report says Next year is shaping up to be a seller’s market, according to real estate company Royal LePage. recreational properties as people 're-evaluate their lifestyle’, Suzuki report calls for road-pricing fees to reduce Metro Vancouver congestion, UEL residents organize against potential development at prominent UBC corner, HSBC offers mortgage rate below one per cent, Vancouver real estate: Shift on to big corporate landlords of apartment buildings, Douglas Todd: Hidden foreign ownership helps explain Metro Vancouver’s ‘decoupling’ of house prices, incomes, Douglas Todd: Offshore investor of $45 million in Vancouver housing claims fraud, Sunshine Coast real estate market suddenly hot, Metro Vancouver home sales hit five-year high in November, Vancouver real estate: Owners begin filing info for B.C. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,687 in October 2020, a 29 per cent increase… The highest forecast in a September Reuters poll of 16 economists was price growth of 2% in 2021, while the lowest prediction called for a 13% drop. Starlight Developments is asking to add 1,200 new rental homes to a 7.4 acre site where it has been renovating 528 existing, older ones, Brian Yu, Central 1 deputy chief economist, authored the report and calls B.C.’s ongoing pandemic recovery a “mix of short-term challenges and future optimism.”, Hundreds of corporate executives tracked in earnings calls in the past five months addressed urgency to cut real-estate costs. The report shows a shift towards a sellers’ advantage in most of the submarkets, especially in Port Coquitlam and Langley. Large funds are interested in buying apartment buildings, but housing advocates have concerns, Opinion: ‘Significant sums of foreign capital that have been excluded from official statistics’ behind the disconnect, new peer-reviewed study out of SFU shows. The start this week of a “hidden ownership” registry in B.C.had lawyers and notaries public going through the first live test of filing to meet the new requirements on one of the busiest end-of-the-month days in recent memories. real estate: Markets outside Vancouver driving detached home sales, Canadian home prices seen rising 5.5% in 2021, with biggest gains in Ottawa, Vancouver, Restaurants cut hours, close in downtown Vancouver, hopeful for return of workers, Dan Fumano: 'Every problem is a housing problem' that shouldn't be left to municipalities, This Vancouver couple made a fortune in Apple shares — now they have to turn it into a stable retirement, Douglas Todd: The hollowing out of Vancouver’s west side (Part 1), Developer rethinks Burnaby Metrotown project with ‘healthier, safer’ redesign, Vancouver real estate: Downtown condo listings drop for first time in months, Canadian home prices to fall up to 5% in 2021, Fitch predicts, Prices surge for B.C. Starlight Development aims to build Metro's largest rental development in Burnaby, B.C. Real estate market news in British Columbia has not changed in the last 4o years: The housing market and home prices keep going up. 's real estate sales is coming from outside Vancouver, especially in the Fraser Valley and the Okanagan. Get the latest news affecting Metro Vancouver’s real estate market. Dane Eitel, the founder and lead analyst of Eitel Insights, says the market will get worse next year. How To Tell If A House Has Good bones. Buyers & Sellers. 's new 'hidden ownership' registry. Lots & Land. CTV News Channel, Next year is shaping up to be a seller’s market, according to real estate company Royal LePage. Join the mailing list to receive daily email updates. Analysis: What lessons can Vancouver learn from San Francisco, where a severe housing crisis has become a cautionary tale for other cities? A lot of the momentum in B.C. The institution’s 2019-2021 B.C. Analysis: The relatively few people who can afford west-side houses tend to be satellite families, says researcher Andy Yan. VANCOUVER (NEWS 1130) – Don’t believe the hype. Real Estate News. Housing sales in Metro Vancouver fell almost 17 per cent in November compared to the previous month, according to the Real Estate Board of Metro Vancouver. Vancouver real estate is expected to continue as a seller’s market in 2021. You can buy the priciest home for sale in West Van, Harry and Meghan's Windsor home renovations cost $4M in taxpayers' money, In pictures: Modern farmhouse is this year's $2M PNE Prize Home, 5 cheapest real estate listings in Vancouver, Surrey, 5 most expensive listings in Vancouver, Surrey, 'Dens' in downtown Vancouver renting for up to $700, 1900s Fraser Valley substation up for auction as luxury home, Vancouver property taxes will be hiked the maximum amount recommended in 2021, $200 parcel-tax increase prompts Surrey city councillors to quit committee in protest, Vancouver real estate: Home sales fall, but stay higher than a year ago, Change made to insurance for B.C. A healthy supply is anticipated for the downtown core and low interest rates will continue to impact housing activity. © 2020 Vancouver Sun, a division of Postmedia Network Inc. All rights reserved. housing market to remain vibrant through the new year: report. Professor of Finance, Andrey Pavlov, joins Matt & Adam to discuss Vancouver real estate market conditions in 2019, predictions for the market in 2020, concerns around strata insurance deductibles, rent control, and more. VICTORIA -- Vancouver Island’s real estate market is showing signs of recovery as B.C. Buying a Home. 1 A new report from Central 1 Credit Union suggests Metro Vancouver’s housing market could be bouncing back faster than anticipated. The numbers don’t lie. In the City, the benchmark for Vancouver East fell to $1,034,500, down 9.5% from last year. RBC Training Ground could make your dreams a reality, Pennsylvania man accused of casting dead mother's ballot for Trump, Biden to address COVID-19 bill, holiday pandemic precautions, Some White House advisers fear Trump's final days, Lerma charged with biting opponent during English game, FIFA files criminal complaint against Blatter over museum, English soccer might need 'circuit breaker' suspension to prevent outbreaks, says club doc. For example, the BC Real Estate Association (BCREA) economist, BCREA is a real estate industry advocacy organization, predicts Greater Vancouver prices will rise 6% in 2021. Real estate trends in the Vancouver market, Tax hike, levy increase approved in Surrey, Strathcona tent city affecting real estate market, July marked record high for home sales amid ongoing pandemic, COVID-19 has changed how we think about real estate: survey, Pakistani rights activist's death in Toronto 'non-criminal', police say, 10 correctional officers charged following death of Indigenous man in N.L. The Sunshine Coast is officially the hottest real estate market in B.C., recording an 82 per cent increase in home sales last month compared with November 2019. This advertisement has not loaded yet, but your article continues below. If the dispute over the adoption of the neighbourhood plan ends up in court, it wouldn’t be the first legal challenge to a University Endowment Lands decision. Home sales and listings surged in September, according to the latest numbers from the Real Estate Board of Greater Vancouver. Considering the economic changes that are felt by … By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Unauthorized distribution, transmission or republication strictly prohibited. Now more than ever, B.C. Subscribe to our newsletter. Today's Vancouver MLS Listings Residential. Royal LePage's forecast is more upbeat than most, including CMHC and some of the biggest banks, With no sports on big screen TVs, no tourists or seasonal events, and no office workers to attend lunches and parties, restaurants that usually ring up big holiday sales in December are instead shutting up shop. REBGV reported a benchmark price of $995,200 in July, down 9.4% from last year. Buying a Home. 1, Use of this Website assumes acceptance of Terms & Conditions and Privacy Policy, Average house price in Greater Vancouver set to jump nearly 10 per cent in 2021, report says, A house once owned by a member of the Group of Seven is for sale in B.C. VANCOUVER (NEWS 1130) – With bad news about the economy due to the COVID-19 crisis coming out on an almost-daily basis, many are wondering what this all means for the real estate values in Metro Vancouver. New Today. Greater Vancouver real estate prices are still falling. The proportion of asking-price and above-asking purchases for real estate has been rising steadily since July. VICTORIA -- The latest report from the Canada Mortgage and Housing Corporation (CMHC) shows that despite the pandemic, the Victoria real estate market … Shows a shift towards a sellers ’ advantage in most of the hottest years has the. Continuing to use our site, you agree to our Terms of Service and Policy! House has Good bones us to analyze our traffic the City of Vancouver cent more. Submarkets, especially in Port Coquitlam and Langley anticipated for the downtown core and low rates. 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